Borregaard’s operating revenues increased to NOK 1,833 million (NOK 1,744 million)2 in the 4th quarter of 2025. EBITDA1 was NOK 405 million (NOK 398 million). The result in BioMaterials increased, while BioSolutions and Fine Chemicals had lower results compared with the 4th quarter of 2024. In BioSolutions, high deliveries of biovanillin and sustained growth in sales to agriculture were more than offset by increased costs. For BioMaterials, higher sales prices and lower wood and energy costs, more than comp ...